Yamaha Enduro 15...exhaust gas issue

[belizesailor]

Some exhaust gas is exiting my Enduro 15 from where it should not. Specifically some exhaust gas is exiting where a control arm enters the lower unit on the forward edge of the motor. This is where the control rod is visible from the exterior of the engine. Otherwise the engine runs fine.

I assume a seal or gasket has failed along the route of this control arm, which extends down to prop shaft.

My main concern is to confirm whether this is a serious problem or one that can wait till off season to fix (I really dont want to tear down my lower unit while out cruising).

The engine did have a cooling issue early. Lower unit was pulled to check impeller etc (all OK, turned out to be thermostat). So a seal could have been improperly reseated then.

Are exhaust is exiting is circled in diagram below.


Suggestions?